Being Harassed by AIB Bank There’s a very good piece by Mark Keenan, one of Ireland’s foremost property journalists, in last week’s Irish Independent property supplement. It refers to difficulties that a friend of his has been having with a bank he was unable to name, that bank is Ireland’s…
“On a scale of one to seven, one being very unlikely and seven being very likely, how likely would you be to trust AIB with your investments in the future?” Oh, my, God. One, one, one, actually if there’s a zero, I’ll have that.
It appears that Irish Banks are sending out threatening Christmas Letters to intimidate clients during an emotive and financially challenging period of the year. Is this a deliberate bank tactic? It would appear so.
Irish banks are bullying business clients because they have found huge internal documentation issues in their own offices. Dealing with aggressive banks is consequently an issue that has now arisen for many Irish business owners. You have to face them down and not let them walk all over you.
By closing your overdraft account and creating a new term loan Irish banks are reclassifying long standing overdrafts as ‘new loans’, in order to meet lending targets set by the government.
His value investing philosophy has seen his company ride out many bubbles and bursts, not least the one from which the US is struggling to emerge. When he says things people tend to take notice – and he says now is the time to invest in US property.
Read this if your bank has hiked your interest rates for no good reason. Monopolistic Irish banks are abusing clients unable to locate finance elsewhere.
